Monitor the second quarter for higher unit costs and sustaining capital spend, which the company has flagged as expected headwinds. The significant increase in the share repurchase program suggests strong confidence in future cash flow, making the stock attractive for investors seeking capital return.
Price Chart
Executive Summary
Newmont reported strong Q1 2026 results with a 24.7% EPS beat, driven by a record $4,900/oz gold price and lower costs, generating $3.1B in free cash flow. The company raised its share repurchase authorization by $6.0B and maintained 2026 guidance, signaling confidence in its financial strength.
Key Financial Metrics
Key Facts
- Adjusted EPS of $2.90, a 15% increase from the prior quarter and a 24.7% beat over the $2.52 consensus estimate.
- Generated a record $3.1 billion in free cash flow, a 12% increase from the prior quarter.
- Average realized gold price surged 16% to $4,900 per ounce, significantly above the prior quarter.
- Gold by-product AISC decreased 21% to $1,029 per ounce, benefiting from favorable co-product prices and lower capital spend.
- The company doubled its share repurchase authorization with an additional $6.0 billion, following the full execution of its previous program.
Financial Impact
Adjusted EPS of $2.90 and revenue of $7.3B, with free cash flow of $3.1B.
Risk Factors
- A potential $25 per ounce impact to Gold AISC from new Ghana royalty changes, which were not included in guidance.
- An earthquake at the Cadia operation may lower second-quarter production, with full capacity expected by the end of Q2.
- Unit costs in Q2 are expected to be notably higher due to increased sustaining capital spend and higher oil prices.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001164727-26-000017 |
| Document: nem-20260423.htm | 0001164727-26-000017 |
| Document: 0001164727-26-000017-index-headers.html | 0001164727-26-000017 |
| Document: 0001164727-26-000017-index.html | 0001164727-26-000017 |
| Document: 0001164727-26-000017.txt | 0001164727-26-000017 |
| 8-K Data (Synthetic) | 0001164727-26-000017 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
May 13, 2026 23w ago | 144 | $112.00 $112.00 | · 0.00% | ▼ −4.44% | $111.50 (−0.45%) |
May 1, 2026 25w ago | 144 | $110.65 $112.00 | ▲ +1.22% | ▼ −1.85% | $111.50 (+0.77%) |
Apr 23, 2026 26w ago | 8-K | $110.65 $112.00 | ▲ +1.22% | ▼ −3.86% | $111.50 (+0.77%) |
Mar 26, 2026 30w ago | DEFA14A | $110.65 $112.00 | ▲ +1.22% | ▼ −14.85% | $111.50 (+0.77%) |
US Market Status
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